London Capital Group buys FuturesBetting.com For GBP0.4M

London Capital Group Holdings, which operates Capital Spreads, a spread betting company, announced Tuesday that it has acquired FuturesBetting.com, a Gibraltar based financial spread betting business.

The consideration consists of an initial GBP200,000 paid on completion plus a maximum of a further GBP200,000 dependant upon performance over a three year period.

The acquisition has been financed out of existing financial resources within the Group and will not require any external debt or equity capital.

Launched in 2005, FuturesBetting.com provides experienced traders with a professional trading platform that offers fast and reliable spread betting execution on major indices, currencies and commodities. The platform is particularly popular with individual professional traders as it offers unique DMA (Direct Market Access) functionality which is unavailable on other spread betting platforms.

LCG will operate FuturesBetting.com as a stand-alone platform with its own marketing and brand positioning. LCG expects FuturesBetting.com’s position to be strengthened by leveraging LCG’s customer base and bytargeting more sophisticated and experienced investors.

The FuturesBetting.com platform will go live shortly.

Tags: Direct Market Access, DMA, financial spread betting, london capital group

This entry was posted on Tuesday, May 27th, 2008 at 12:47 am and is filed under Annoucements, Industry Happenings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.